Guideline Value for Mettu street

Mettu street guideline value

The current guideline value of Mettu street in Ikkadu village is Rs 500 per sq.ft, effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Mettu street has changed

Looking at the revisions, the guideline value for Mettu street has seen several changes over the years. The 2007 revision set the value at Rs 80 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 335 per sq.ft. The 2023 revision brought it back to Rs 500 per sq.ft, and the current 2024 revision maintains this rate, showing no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 525%. Notably, there are no figures available for Mettu street in the 2002 and 2003 revisions.

Guideline values in Ikkadu

In Ikkadu village, there are 51 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,400 per sq.ft, with a median value of Rs 400 per sq.ft. Mettu street's 2024 guideline value of Rs 500 per sq.ft is above this median.

• Mandapam street: Rs 500 per sq.ft (2024)
• Makka Nagar 3rd street: Rs 300 per sq.ft (2024)
• Makka Nagar 2nd street: Rs 300 per sq.ft (2024)
• Makka Nagar 1st street: Rs 300 per sq.ft (2024)
• Mahalakshmi Nagar- Teachers Mahalakshmi Nagar: Rs 500 per sq.ft (2024)
• Laksmi Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Mettu street

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mettu street?

The Sub Registrar Office that covers Mettu street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ikkadu

The guideline value plays a crucial role during the registration of property transactions in Ikkadu. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property registration. This ensures that all parties involved in the transaction are informed about the financial implications of the guideline value.

Frequently asked questions

What is the current guideline value of Mettu street?

The current guideline value of Mettu street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Mettu street has changed from Rs 80 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and returned to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification of Mettu street?

Mettu street is classified as Residential Class II Type - I under the Tiruvallur Joint 1 SRO.

What are the stamp duty and registration fees for properties in Mettu street?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which office handles registrations for Mettu street?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for Mettu street, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.